• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

New Delhi , Jan 16

Reliance Industries Ltd (RIL) plans to set up a 50,000-barrels-per-day refinery in Yemen in collaboration with a local partner, according to Mr Khalid Mahfoudh Bahah, Yemen's Minister for Oil and Minerals. The company has already picked up stake in two oil blocks — 34 and 37 — in that country. Mr Bahah told newspersons on the sidelines of Petrotech-2007, "Reliance will partner local Yemen company, Hood Oil, for this refinery."

The initial refinery capacity of 50,000 barrels per day can be doubled later. Construction on the project is expected to begin this year and likely to be completed in 36 months. RIL will have an obligation to sell products from the refinery in the domestic market for the first five months and can export beyond that.

Blocks 34 and 37, each measuring around 7,500-sq km and located on the border with Oman, were among the seven blocks offered by Yemen in its second licensing round. Asked about the forthcoming bidding rounds in that country, he said Yemen would be offering 5-10 offshore blocks in the second half of this year.

More Stories on : Overseas Investments | Petroleum | Reliance Industries Ltd

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Phillips Carbon earns Rs 2.8 cr from CERs

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line